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Essential eLearning for all financial services professionals.
Our Anti-Money Laundering module adheres to the AML/CFT Handbooks, to help ensure your company meets the statutory requirements. With a focus on moral imperatives, employees will understand the importance of the contribution that they can individually make.
Training is most effective when learners retain all of the information. With clear and concise content, the latest learning science and modern design, we increase learners’ information retention by up to 65% compared to traditional eLearning.
Our eLearning complies with European security standards and is guaranteed to work with your IT systems.
1-hour |
All staff |
Luxembourg-specific |
1-hour CPD |
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Money laundering can be described as the process by which the proceeds of crime are disguised to make them appear legitimate. As such, money laundering is an essential part of illegal activity, and helping stop it can have a real-world impact on crime.
How much money is laundered each year?
It’s estimated that 2.7% of global GDP (over 2 trillion USD) is laundered per year. (FACTI2020)
Money laundering is traditionally described in terms of ‘The Money Laundering Cycle’. You may already be familiar with the conventional money laundering cycle which usually divides the money laundering process into three principal phases.
Placement
Layering
Integration
Different jurisdictions have varying regulatory obligations for what your AML obligations look like. However, most jurisdictions require individuals to complete mandatory refresher training once every year or other year.
In Jersey, the Jersey Financial Services Commission (JFSC) publish the AML / CFT Handbooks, which outline the legislative and regulatory requirements for the prevention and detection of money laundering and the financing of terrorism. You can click here to view the Handbooks.
In Guernsey, the GFSC has a singular Handbook on Countering Financial Crime and Terrorist Financing, which is applicable to all financial services businesses and prescribed businesses can be found here.
A detailed understanding of what money laundering is
An understanding of jurisdiction-specific legislation
An understanding of how to identify suspicious activity
An understanding of the risk-based approach (RBA)
An awareness of your CDD and KYC obligations
An understanding of your reporting obligations
An understanding of terrorism financing
AML and CFT frameworks have a layered-style structure, in which international initiatives shape local laws and guidance, which ultimately shapes your company’s policies and procedures. It’s very useful to have an understanding of the different AML and CFT frameworks when discussing appropriate AML and CFT measures.
International Initiatives
Sanctions
Primary Legislation
Secondary Legislation
Regulatory Powers
Guidance
Codes of Practice
Internal Policies and Procedures
Number of licences |
Price per licence |
1 – 10 |
€ 70.00 |
11 – 24 |
€ 65.00 |
25 – 49 |
€ 60.00 |
50 – 74 |
€ 55.00 |
75 – 99 |
€ 50.00 |
100+ |
POA |
CORR.SIFS has partnered with eLearning experts CORR, to provider world-class modules to our global financial services audiences. CORR works with leading subject matter experts in the design of all modules.
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